The USA’s $1.1 trillion deficit is four times larger than India’s trade deficit

Key takeaways

  • The United States leads with a massive $1.1 trillion in trade deficit, over four times larger than India's $245.5 billion deficit
  • India and the United Kingdom follow, each exceeding $230 billion in trade deficits, reflecting high import reliance
  • The USA’s trade imbalance alone surpasses the combined deficits of the other nine countries on this list
  • Six of the top ten countries with the largest deficits are European economies

Global trade deficits vary widely, with the United States standing out at $1.1 trillion, more than four times larger than India’s $245.5 billion deficit. The USA’s trade deficit alone exceeds the combined deficits of the remaining nine countries, underscoring its high import consumption. The UK follows closely behind India with a $233.1 billion deficit, highlighting a reliance on imports. Japan, Spain, Greece, and Romania maintain deficits below $50 billion in a list dominated by European economies.

Source:

World Bank

Period:

2023
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